YES Bank, India’s 5th largest private sector bank has partnered with Gupshup, a bot platform, to launch ‘YES mPower’ – a banking chat bot for its loan products. Currently active on Facebook Messenger, YES mPOWER claims to help customers get information about Loan Products offered by YES Bank and help them get a loan eligibility, enabling customers to get the information they need quickly and easily.
YES Bank plans to incrementally release more services through the chat bot, making YES mPower the one stop shop for all loan requirements. The company claims that on YES mPower, a customer can get information on loan products like Personal Loans, Auto Loans, Gold Loans, Loan Against Securities and products like Used Car Loans, Loan Against Properties, Home Loans will be added shortly.
“YES BANK’s goal is to make banking simple and seamless for our clients, so that their financial requirements are met in the quickest and easiest way possible. We have always believed in leveraging technology and innovation to offer a superior Banking experience, and the YES mPower will help us digitize our very first interaction with customers looking for YES Bank’s loan products,” said Pralay Mondal, Senior Group President & Head, Retail & Business Banking, YES Bank.
“We’re excited to partner with Gupshup to introduce this chat bot that transforms banking as we know it by offering a conversational interface to users,” he added.
YES mPower, through its chat based interface and presence on Facebook Messenger, aims to transform the way customers can find information about YES Bank’s loan products. The chat bot offers an easy-to-use conversational interface that requires no knowledge of technology or banking. The mPower bot also facilitates instant communication with all stakeholders so that the customer’s requirement can be addressed immediately.
“AI driven conversations between brands and their consumers deliver better customer experiences while lowering costs through automation. We are thrilled to partner with a customer-centric organization such as YES Bank, that is driving disruptive innovation in financial services industry,” said Beerud Sheth, CEO, Gupshup.
Presently the Bank has launched this chatbot for its customer facing staff for addressing the loan requirements of their customers anytime, anywhere and to ensure that loan detail communicated to the customers are first-time-right. The bot allows any customer facing staff of the Bank to cross-sell any Retail Loans product without the need to memorize product features, pricing, eligibility calculation and claims to drastically reduce the time taken to train the Bank’s sales teams on multiple products, thus significantly increasing efficiencies.